Provisions applicable to members’ winding up ‑ Final meeting and dissolution ‑ Scrutiny of accounts of companies in liquidation ‑Filing of income‑tax clearance certificate - Companies Law - Circular : No. 17/76

Circular : No. 17/76 [1/1/76 ‑ CL ‑ V and 52/9/68 ‑ CL ‑ III], dated 28 ‑ 6 ‑ 1975. Subject:- Provisions applicable to members winding up ‑ Final meeting and dissolution ‑ Scrutiny of accounts of companies in liquidation ‑ Filing of income ‑ tax clearance certificate The Official Liquidator, Allahabad had pointed out that during the scrutiny of accounts under section 497/509 of companies in liquidation, cases came up where the voluntary liquidator is not in a position to furnish the income‑tax or sales tax clearance certificates. The matter has been examined by this Department and it has been decided that in the cases as mentioned above, if, there are no other objections to be settled, the official liquidator may obtain an affidavit of the voluntary liquidator stating that the company in‑voluntary liquidation does not owe any tax to Income‑tax or Sales Tax Department. If any official liquidator has doubt in the matter before submission of report under section 497/509, he may himself make a reference to the concerned Department/Income‑tax Officer and ascertain the position and then decide the course of action.